With revenues short of pre-pandemic projections, many states are looking to excise taxes as a way to plug revenue gaps, sometimes by raising existing tax rates (particularly on tobacco and vapor products) and other times by legalizing and taxing new markets, like sports betting and marijuana.

States often struggle with the trade-offs inherent in these so-called “sin taxes,” trying to navigate sometimes competing public health and revenue generation goals. They must also grapple with often unstable revenues and questions of how to design taxes on newly legalized markets.

In this session, we explore these and similar questions related to excise taxes, along with a review of the basic theory of excise taxation.

Learn more at: https://taxfoundation.org/boot-camp